The 2012 drill program tested the deposit above the 75 meter level which had been little explored by previous drilling campaigns. Holes
NSG-6-12 and NSG-7-12 encountered old workings near the surface and
were discontinued. The remaining thirteen holes all encountered the
expected, relatively sulphide rich, quartz bearing argillite zones. Of
particular significance Hole NSG-8-12 returned gold values of 36.8 grams per tonne over 0.6 meters starting at 30.9 meters and 15.21 grams per tonne over 1.7 meters starting at 77.7 meters.

Other significant drill intercepts included the following;

9.93 gpt over 1.0 meter in Hole NSG-1-12 starting at 25.2 meters

7.10 gpt over 1.0 meter in Hole NSG-3-12 starting at 67.2 meters

6.25 gpt over 1.0 meter in Hole NSG-8-12 starting at 74.3 meters

11.49 gpt over 1.0 meter in Hole NSG-10-12 starting at 51.8 meters

8.44 gpt over 1.0 meter in Hole NSG-10-12 starting at 54.8 meters

9.44 gpt over 1.0 meter in Hole NSG-13-12 starting at 48.0 meters

18.76 gpt over 1.0 meter in Hole NSG-15-12 starting at 22.9 meters

In the thirteen holes that were drilled to planned depths, there were
thirty-nine (39) intercepts with gold values greater than 0.5 grams per
tonne, including twenty-six (26) intercepts with gold values greater
than 1.0 grams per tonne. The average sample length and grade of the
thirty-nine intercepts were 0.92 meters and 4.57 grams per tonne
respectively. Appendix A includes a table of the gold results
exceeding 0.5 grams per tonne.

All holes were drilled at angles between 45 and 47 degrees and core
angles were generally in excess of 60 degrees, averaging between 65 and
70 degrees, resulting in true widths being seven to nine percent less
than core lengths.

The data obtained from this drilling program, together with the results
from previous drilling, will be used to undertake a preliminary
evaluation of the potential for open pit mining of the West Zone. The
West Zone has been previously drill tested at depth and extends along
strike approximately 1,000 meters, however, past drilling campaigns
(110 holes totaling 29,000 meters) were not designed to target the gold
bearing veins within 75 meters from the surface. The Mooseland gold
deposit occurs within a typical Meguma structure with steeply dipping
limbs. The gold bearing quartz veins at Mooseland occur on both limbs
of the fold with similar widths and grades. Of particular significance
from a potential open-pit mining perspective is the relatively shallow
depth (generally 0.5-1.5 meters) of overburden covering the West Zone
deposit and the geometry of the near surface saddle veins.

The West Zone comprises 57% (259,000 ounces) of the total inferred
mineral resources for the Mooseland Gold Project which are estimated at
454,000 ounces of gold (see NSGold news release dated June 5, 2012).
A summary of the June 2012 resource estimate is provided in the table
below.

Mooseland Summary of Non-Diluted Inferred Mineral Resources

Cut-off Grade
(g/tonne)

Tonnes Above
Cut-off

Average Diluted
Grade (g/tonne)

Ounces

West Zone

2.6

1,460,000

5.52

259,000

East Zone

2.6

1,060,000

5.72

195,000

Total

2.6

2,520,000

5.6

454,000

Sampling Protocol and QA-QC

Drill core was split in half by hydraulic splitter at the secure core
shack on the property and was placed in poly bags and sealed with zip
ties once the sample tag is inserted. Splitting equipment was
thoroughly cleaned between samples. The remainder of the core is
retained in core boxes stored in the core shack. Sample bags were
packed in numbered boxes and shipped to Laboratoire Expert in
Rouyn-Noranda, Quebec for analysis.

All samples were assayed for gold using standard fire assay and all
samples returning values over 500 ppb were re-assayed using the "screen
for metallics" method utilizing the complete sample. In addition, any
samples identified as containing visible gold were also tested using
the metallics method. A total of 79 of the samples were analyzed using
this method, including 22 samples testing less than 500 ppb in the
original results. Sample standards, blanks and duplicate samples were
inserted in accordance with industry best practice.

Qualified Person

Perry MacKinnon P. Geo., Chief Geologist, for NSGold, a qualified person
as defined by National Instrument 43-101 has reviewed the information
provided in this news release.

About NSGold

NSGold Corporation is a mineral exploration company actively exploring
for gold in Nova Scotia, Canada. NSGold's principal property is the
Mooseland Gold Property. NSGold's shares are listed on the TSX Venture
Exchange under the symbol NSX.

Forward-Looking Statements

This news release contains statements that may constitute
"forward-looking information" or "forward-looking statements" within
the meaning of applicable Canadian securities legislation.Forward-looking information and statements may include, among others,
statements regarding the future plans, costs, objectives or performance
of NSGold Corporation ("NSGold"), or the assumptions underlying any of
the foregoing. In this news release, words such as "may", "would",
"could", "will", "likely", "believe", "expect", "anticipate", "intend",
"plan", "estimate" and similar words and the negative form thereof are
used to identify forward-looking statements. Forward-looking
statements should not be read as guarantees of future performance or
results, and will not necessarily be accurate indications of whether,
or the times at or by which, such future performance will be achieved.
No assurance can be given that any events anticipated by the
forward-looking information will transpire or occur, or if any of them
do so, what benefits that NSGold or its shareholders will derive.
Forward-looking statements and information are based on information
available at the time and/or management's good-faith belief with
respect to future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond NSGold's control. These risks, uncertainties and
assumptions include, but are not limited to, those described under
"Risks and Uncertainties" in NSGold's Management Discussion and
Analysis for the Year ended December 31, 2011, which is available on
SEDAR at www.sedar.com, and could cause actual events or results to differ materially from
those projected in any forward-looking statements. NSGold does not
intend, nor does NSGold undertake any obligation, to update or revise
any forward-looking information or statements contained in this news
release to reflect subsequent information, events or circumstances or
otherwise, except if required by applicable laws.

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